Able Asset Group has launched its latest development in Bangkok – The Remarkable Soonvijai 2 – a low-rise condominium on Petchburi Road near Bangkok Hospital.
There project featured 87 units and has a total project value of THB 400 million, with prices starting at THB 3.3 million for a one-bedroom unit and rising to THB 10 million for a penthouse.
Kasidit Manopinives, Managing Director of the developer, told the media at the opening of its sales gallery that the company set aside THB 80 million to develop this project. The company has also signed a contract to receive financial support for construction costs with Bangkok Bank.
He added that he expects construction to start later this year, and that the project will be completed in 2017.
The Remarkable Soonvijai 2 low-rise condominium, according to the developer, will aim to serve the demands of modern lifestyle in a convenient location close to hospitals, department stores and restaurants. The location also has easy access to main roads and expressways. It was designed to be a peaceful and relaxing residential area, with suitable utility spaces.
A recent research report from real estate firm Knight Frank revealed the average price of condominiums in the Petchaburi – Ratchada area and the Sukhumvit – Phra Khanong areas during the first half of 2015 increased in both supply and prices, where average prices of condominiums in the Sukhumvit – Phra Khanong area climbed to THB 226,000 per sqm – 50 percent higher than in 2014, while those in Petchaburi – Ratchada areas stood at THB 110,000 per sqm, or 28 percent higher than in 2014.
Kasidit said the real estate market during the second half of 2015 will not be much different from the first half, as the overall economy remains stable. He said that even though the Thai government is trying to expedite disbursement and monitoring many mega projects, the overall real estate market, especially condominiums will not hit high growth numbers.
This, he explained, was because most entrepreneurs adjusted their sales plans for new projects by reducing the numbers. Only certain locations are chosen for projects, and focused on locations that serve consumer demand.
During presales the company is offering packages including a full furniture package, wallpaper and discounts of up to THBB 200,000 for every units.
Source: www.remarkablecondo.com.